11 October
2024
Taylor Maritime Investments
Limited (the "Company")
Director/PDMR
Shareholding
The Company announces that Gordon
French, Non-Executive Director, has purchased 100,000 ordinary
shares in the capital of the Company ("Ordinary Shares") as
follows:
|
Director/PDMR
|
Ordinary Shares Acquired
|
Price per
Ordinary Share
|
Total Holding
following Purchase
|
%
of the Company's
issued share capital now held
|
|
Gordon French
|
100,000
|
US$1.015
|
100,000
|
0.030%
|
The relevant notifications set out
below are provided in accordance with the requirements of the
Market Abuse Regulation.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Gordon French
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Non-Executive Director
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Taylor Maritime Investments
Limited
|
|
b)
|
LEI
|
213800FELXGYTYJBBG50
|
|
4
|
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted
|
|
a)
|
Description of the financial
instrument, type of instrument
|
Ordinary shares
|
|
|
|
|
Identification code
(ISIN)
|
GG00BP2NJT37
|
|
|
|
|
b)
|
Nature of the transaction
|
Purchase
Purchase not linked to a share
option programme
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
USD1.015
|
100,000
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
|
|
|
|
|
- Aggregated volume
|
100,000 shares
|
|
- Total Price
|
USD 101,500.00
|
|
|
|
|
e)
|
Date of the transaction
|
10 October 2024
|
|
f)
|
Place of the transaction
|
London Stock Exchange
|
ENDS
|
For further information, please
contact:
|
Taylor Maritime Investments
Limited
Edward
Buttery
Camilla Pierrepont
|
IR@tminvestments.com
|
|
Jefferies International
Limited
Stuart Klein
Gaudi Le Roux
|
+44 20 7029 8000
|
|
Apex Group
Matt Falla
|
+44 20 3530 3107
|
|
|
|
|
|
|
|
|
Notes to Editors
About the Company
Taylor Maritime Investments Limited
is an internally managed investment company listed under the
closed-ended investment funds category of the FCA's UK Listing
Rules sourcebook (previously the Premium Segment of the Official
List), with its shares trading on the Main Market of the London
Stock Exchange since May 2021. The Company specializes in the
acquisition and chartering of vessels in the Handysize and
Supra/Ultramax bulk carrier segments of the global shipping
sector. The Company invests in a diversified portfolio of
vessels which are primarily second-hand and Japanese
built.
The Company acquired a controlling
stake in Grindrod Shipping Holdings Limited ("Grindrod") in December 2022 and,
following a Selective Capital Reduction which took effect
on 16 August 2024, Grindrod became a wholly owned subsidiary
of the Company and was delisted from each of Nasdaq and the
JSE. As a result, the Company, through its subsidiaries,
currently has an owned fleet of 32 dry bulk vessels, consisting of
25 Handysize vessels and seven Supra/Ultramax vessels. The
Company also has seven vessels in its chartered in fleet with
purchase options on three. The ships are employed utilising a
variety of employment/charter strategies.
The Company's target dividend policy
is 8 cents p.a. paid on a quarterly basis, with a targeted total
NAV return of 10-12% per annum over the medium to
long-term.
The Company has the benefit of an
experienced Executive Team led by Edward Buttery and who previously
worked closely together at Taylor Maritime. Taylor Maritime
was established in 2014 as a privately owned ship-owning and
management business with a seasoned team including the founders of
dry bulk shipping company Pacific Basin Shipping (listed in Hong
Kong 2343.HK) and gas shipping company BW Epic Kosan (formerly Epic
Shipping). The commercial and technical management arms of
Taylor Maritime were acquired by Grindrod in October
2023.
For more information, please
visit www.taylormaritimeinvestments.com.
About Geared Vessels
Geared vessels are characterised by
their own loading equipment. The Handysize and Supra/Ultramax
market segments are particularly attractive, given the flexibility,
versatility and port accessibility of these vessels which carry
necessity goods - principally food and products related to
infrastructure building - ensuring broad diversification of fleet
activity and stability of earnings through the cycle.
IMPORTANT NOTICE
The information in this announcement
may include forward-looking statements, which are based on the
current expectations and projections about future events and in
certain cases can be identified by the use of terms such as "may",
"will", "should", "expect", "anticipate", "project", "estimate",
"intend", "continue", "target", "believe" (or the negatives
thereon) or other variations thereon or comparable terminology.
These forward-looking statements are subject to risks,
uncertainties and assumptions about the Company, including, among
other things, the development of its business, trends in its
operating industry, and future capital expenditures and
acquisitions. In light of these risks, uncertainties and
assumptions, the events in the forward-looking statements may not
occur.
References to target dividend yields
and returns are targets only and not profit forecasts and there can
be no assurance that these will be achieved.
LEI: 213800FELXGYTYJBBG50